Mortgage Broker Pleads Guilty to Defrauding Lender

Allison Tussey —  April 5, 2013 — Leave a comment

Gloria Arias, 44, Weston, Florida, pleaded guilty to making material misrepresentations to a financial institution. Arias faces a maximum penalty of 30 years in federal prison for her involvement in this mortgage fraud offense.

According to the plea agreement, Arias worked as a mortgage broker for Synergy Lending Group. The owner of Synergy Lending also owned and operated two other real estate businesses, Realty Alliance, LLC, and a title agency, Title Executives of Broward, Inc.

In the summer of 2006, Realty Alliance was hired to market condominium units at The Arbors at Carrollwood, 3939 Ehrlich Road, Hillsborough County, Florida, a 390-unit condominium complex.  Synergy Lending was responsible for assisting prospective borrowers in obtaining financing from various mortgage lenders to purchase condo units at The Arbors. Arias used her role as a mortgage broker to ensure that borrowers were qualified for mortgage loans by including false information in their Uniform Residential Loan Applications. She falsely inflated gross monthly incomes, included bogus employment information, padded bank account balances, and added false primary residence designations.

Through Arias‘ fraudulent activities, 3 mortgage loans were obtained in connection with the purchase and sale of condo units at The Arbors resulting in a total loss of $416,253.00.

United States Attorney Robert E. O’Neill announced the guilty plea.

This case was investigated by the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney Simon Gaugush.

Allison Tussey

Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>